AUGUST HEAT – US Equity Funds Red Hot in August

Actively managed portfolios continued to outperform
index funds, with the average S&P 500 index fund up
just 6.15% for the month and 3.64% year-to-date.

August returns were a remarkable turnaround from July
when the average US equity fund lost 1.71%.

For the month, funds investing in mid-sized firms were
the strongest, outperforming all other types of portfolios
as mid-cap core, growth and value funds all posted
double-digit returns for the month and year-to-date.

The leading sectors in August were:

15.34% – Technology funds (up 14.65%
year-to-date)

12.14% – Natural resources funds (down 4.20%
year-to-date)

11.84% – Biotechnology funds, up 11.84 percent (up
51.09%)

9.01% – Financial services (up 14.52%
year-to-date)

6.70% – Telecommunications (down 2.51%
year-to-date)

6.64% – Utility funds (up 7.42% for the
year)

Real estate funds were the only sector funds to lose
ground during the month, slipping 2.23% in August. Still,
they are up a strong 17.93% year-to-date.